Buyer Development Efforts Driving Seller Returns
International Growth, Customer Experience, Engagement are Keys to Strategy
Published February 18, 2021 - Written by Steve Muscarello
IAA’s long-term buyer development initiatives are paying major dividends to buyers and sellers.
This week I want to start with an amazing number: IAA’s overall buyer base grew nearly 40% in 2020. Pretty impressive, right? IAA’s buyer development strategy is a long-term, multi-pronged approach to growing our base of highly engaged and active buyers from around the world. We’re focused on three key areas:
- Growing international markets
- Improving buyer experience
- Increasing buyer engagement and personalization
Let’s take a deeper dive into our international buyer development. IAA has physical locations in the top 25 international markets through our Market Alliance Partnerships and preferred brokers. IAA Auction Centers are local bidding centers operated by our local partners around the world that help buyers shop for, bid and ship vehicles. These partners help strengthen buyer engagement and expand our market share through:
- Promoting the IAA brand and the high-quality vehicles we sell
- Breaking down language barriers
- Advertising to the local buying population
IAA's Market Alliance Partner in Belarus.
Each year we add more countries with new IAA Auction Centers, run by our Market Alliance partners. Additionally, IAA has developed specific growth strategies targeting international and domestic buyer channels, including recyclers/dismantlers, dealers, brokers, exporters, and the public.
We’re also advancing buyer growth and engagement through virtual, in-market seminars and live webinars in select markets. We know that international buyers want North American vehicles because they feature more upgrades and options than vehicles from other regions.
IAA has been hosting virtual seminars in select markets across the globe.
While we’re working to bring more global buyers to IAA, we’re also focused on delivering an exceptional customer experience and building loyalty once they’re here. We use buyer input—via our Voice of the Customer (VOC) discipline and our IAA Buyer Council—to create and deliver the tools and services buyers need to succeed.
The latest examples of turning buyer feedback into new offerings include IAA’s recent partnership with CarInspector.US, our exclusive buyer inspections vendor, and our redesigned vehicle search page, which can dramatically improve buyer research efficiency.
IAA’s buyer development efforts provide buyers a best-in-class customer experience. For sellers, that translates into more buyers making more bids, buying more cars, and delivering you better returns. We’ve got much more planned for 2021 and beyond, so stay tuned!
As always, stay healthy and safe. And thank you for your business!
Senior Vice President, Chief Commercial Officer, IAA
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